Yahoo and LINE Final Agreement on Business Integration A huge group is born on December 23 17:58
The holding company of IT major Yahoo and LINE have announced that they have reached a final agreement to merge in October next year. The two companies have decided to proceed with the merger after approval at a general meeting of shareholders in March next year, creating a huge group that will be responsible for various Internet services.
According to the announcement, Yahoo's holding companies Z Holdings and LINE will hold their respective boards of directors on the 23rd, and finally agreed to merge in October next year.
The merger will be phased in, with the two sides holding a shareholders' meeting in March next year to obtain shareholder approval.
SoftBank, the parent company of both companies, and Neighbors of South Korea will invest about 370 billion yen in a tender offer to buy LINE shares, and LINE will be delisted.
Eventually, in October next year, Z Holdings will be placed under the umbrella of a company where SoftBank and South Korean neighbors will trade 50% each, and Yahoo and LINE will become subsidiaries.
If the integration is realized, a huge group will be born that will handle various Internet services such as search, SNS, online shopping, and finance.
The two companies are aiming to be the world's leading companies based on their customer bases in Japan and Asia, and it is likely that they will be able to compete with the US and Chinese giant IT companies.